I couldn't agree more! Having learned "for real" how to do analysis of investments, having earned an MBA in Finance, i can't even express how much sense fundamental analysis makes to me. It makes tons of sense, and is the real and best way to judge an investment. I absolutely love it. But I can barely fathom how totally disconnected the actual world of investments is from fundamental analysis! That world is full of Thieves, criminals, politicians, mafioso government, rogue traders, lawless SEC and CFTC. It goes on and on. To say nothing of the GSE saga. And how can anything be subjected to fundamental analysis when our entire monetary system is a fairy-land ponzi scheme? I'm just supposed to sit here and watch P/E's go up and up forever while the real economy is stagnant with the exception of a small number of extremely large companies, and be called a sucker if I don't buy into it all? Did anyone read Jim Chanos's recent comments about Tesla, for example? I completely agree with him. And it's not rocket science! "Glamor" is not a factor in fundamental analysis of stocks. Maybe it should be. The market has gone over 250 days without a 3% correction? This is not natural. There are many etherial and flakey things underpinning this incredibly rapid rise we see in entire indexes like the NASDAQ. Pure insanity over the last couple of months. And an entire index moves about 3 standard deviations in a SINGLE DAY (as the NASDAQ did a couple of weeks ago)?! We fundamental analysts, I think, are left by the wayside, and it could be a quiet a while before our skills are relevant again.
